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/IMF: Per the FT: "Asia's economic growth......>

- Bonds & Currency News | Market News" >
ASIA: /IMF: Per the FT: "Asia's economic growth will come to a halt for the
first time in 60 years because of coronavirus, the IMF has warned. Speaking at a
briefing on the regional economic outlook, the fund's Asia director, Chang Yong
Rhee, warned that the slowdown will be worse than the global financial crisis of
2008-09 and the Asian financial crisis of 1997. "The impact of the coronavirus
on the region will be severe, across the board, and unprecedented," he said.
"Unlike during the global financial crisis, Asia's real sector, especially the
service sector, is being hit hard by containment measures of the coronavirus
pandemic." Mr Rhee said that a quick recovery from the crisis was still
possible. "For 2021, there is hope: if containment policies succeed, we will see
a rebound in growth. However, it is highly uncertain how this year will
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